Bitcoin is hovering around the $80,000 mark, a key level tied to institutional investors' average acquisition costs. Recent sharp declines in capital inflows into US spot Bitcoin ETFs signal waning demand, while upcoming US inflation data and Federal Reserve decisions could heavily influence market direction. If inflation expectations rise, selling pressure may increase, risking a drop below $80,000; conversely, moderate inflation could support a price rise toward $85,000-$87,500. Investors are closely watching economic indicators and bond yields ahead of the Fed meeting on October 28 for clearer guidance.
As of October 23, 2026, 02:21 WIB, Bitcoin trades at Rp1.466.652.000 on Pluang, down 3.33% in one day, showing notable selling pressure with 70% of orders being sell orders. This price is well below the $80,000 threshold discussed in the article, highlighting current market caution. Bitcoin's circulating supply on Pluang is at 96%, with a typical hold time of 112 days, indicating moderate investor commitment despite recent volatility.
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On October 22, large limit orders for Bitcoin (BTC), Ether (ETH), and HYPE totaling about $121 million were newly placed or repriced and remained open in key monitored accounts. Bitcoin accounted for the largest share with approximately $73.62 millio...
